Wisconsin Ski Area Files for Bankruptcy but Still Plans To Open

Whitecap Mountains, a beloved, small ski area in Wisconsin, has filed for bankruptcy. 

The ski area, in a social media post, shared the news, writing that it had adopted “Subchapter V bankruptcy reorganization,” calling the designation “a special process designed for small businesses like us to get a fresh start.”

“That means we’re able to reorganize quickly, with lower costs, and our team stays in control,” the ski area added. The decision won’t stop Whitecap Mountains from opening this season, the ski area said. 

“It’s still business as usual around here: we’re fully committed to delivering awesome guest experiences and the same down-home Wisconsin hospitality you know and love,” the mountain’s statement reads. “We’re here for you, now and always, and we are excited about opening day!”

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Whitecap Mountains has had a bumpy few years, testing its finances. For one, the last two ski seasons didn’t deliver much snow. 

According to court papers reviewed by Business Insider, the 2023-24 season saw less than 30 inches, a big dip from the previous winter when 260 inches fell. That cut Whitecap’s revenue from about $1.4 million to about $197,000. Last winter saw a modest bump in snow and revenue, but Whitecap was still well below making $1 million. On average, the ski area tallies 200 inches of lake effect snow each winter, according to its website. 

In 2019, Whitecap’s main lodge was also destroyed in a fire. The ski area had to eat that loss after litigation found that the property was uninsured at the time, Ski Area Management reported. 

To survive the dry seasons, Whitecap secured a loan with the private lender Brighton Asset Management, but ended up in default, Business Insider reported. Brighton then filed a lawsuit with plans to foreclose on Whitecap’s property. The ski resort’s bankruptcy filing was designed to prevent those collection efforts.

“Whitecap Mountains Resort is confident that it will be able to stay open while operating under Chapter 11 of the Bankruptcy Code,” Nick Kerkman, an attorney for Midwest Skiing Company (the parent company of Whitecap), told Business Insider.

Whitecap Mountains has yet to confirm its opening date for the 2025-26 season, but recently shared that it is hiring for all positions. 

In another post, the ski area thanked its fans for their support as it navigates bankruptcy. 

“Your positivity keeps us going, especially after two winters with historic record-low snowfall,” the post reads. “It hasn’t been easy, but the encouragement from guests and our local community reminds us why we do what we do.”

“Glad to hear , whitecap is a great ski resort . Best of luck this season !!,” wrote Michigan ski area Mount Bohemia on a recent Whitecap Facebook post. Mount Bohemia season passholders get one free lift ticket at Whitecap Mountains as part of a reciprocity program.

Fans of the beloved ski area chimed in with words of support and encouragement:

“Hope everything comes out well for Whitecap! Worked there many years ago and love the terrain! Charming place for sure.”

“That’s great that the business is getting some financial help. I was up 2 yrs ago on opening day. Y’all had some big obstacles to overcome. Not getting any snow the last 2 seasons obviously didn’t help. Good luck this year and may the snow gods be watching over.”

“We are sorry to hear of the bankruptcy and are praying for you to be able to use this fresh start to get the diamond out of the gem that is Whitecap.”

“Keep us posted. I will always support your intentions and business!”

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